500 Central AveWichita, KS 67214

Property Details for 500 Central Ave

Year built

1950

Construction

CONCRETE BLOCKS

Lot size

0.05 AC

Property size (Sq ft)

2,000 SF

Property type

Turn key restaurants

APN

087-125-16-0-33-10-005.00-C

APU

087125160331000500C

Description

This 2,000 sq. ft. fully furnished restaurant in Sedgwick County is available for lease. Centrally located on Central, it boasts high visibility and convenient parking in a private lot with over 20 spaces. The space is ideal for a seamless transition into operation, featuring an open dining room with seating for up to 100 patrons, a front counter serving station, and a fully equipped kitchen. Kitchen amenities include a vented hood, industrial dishwasher, hand sink, triple sink, and ample prep tables. Two ADA-compliant bathrooms are also included. The tenant is responsible for utilities. This exceptional location offers unparalleled access to a thriving community, surrounded by notable establishments such as the Nifty Nut House, AAA Restaurant Supply, Downtown YMCA, Old Town Wichita, St. Mary’s Cathedral, Envision Headquarters, City Building, County Courthouse, Ascension, and Via Christi Hospital, ensuring a high volume of potential customers. The single-tenant occupancy provides a unique opportunity for a restaurant operator seeking a turnkey solution in a prime location. This property presents a rare chance to establish or relocate a restaurant business in a highly desirable and well-established area.

• CAP approach

  CAP return

  Valuation

  6%

  $453,123

  6.5%

  $418,268

  7%

  $388,391

• Comparable approach

  Method

  Valuation

  Relative Method

  $606,413

  Geo Method

  $606,413

• Alternative Use

  Use

  Valuation

  Residential

  $352,824

  Hospitality

  $323,185

  Educational

  $268,886

  Medical

  $278,134

  Retail

  $418,268

Location Insight

City

Wichita

County

Sedgwick

State

Kansas

Latitude

37.6937

Longitude

-97.3328

CBSA code

48620

CBSA name

WICHITA, KS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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